Live cattle futures saw Monday gains of $2.35 to $2.95 at the close. Cash trade settled in at $234-236 live last week, with some $372 dressed. Feeder cattle futures rallied $5.95 to $6.75 far on Monday. The CME Feeder Cattle Index was down another $1.30 to $357.05 on March 13. The Monday OKC Feeder cattle auction saw sales on 4,305 head sold, with sales 10-15 higher on feeders and calves up $10-20 for steers and $5-15 for heifers.
The strike at the JBS plant in Greeley, CO moved forward this over the weekend, as the workers union started picketing.
Wholesale Boxed Beef prices were higher in the Monday afternoon report, with the Chc/Sel spread at $8.15. Choice boxes were up $4.74 to $402.66, while Select was $2.97 higher to $394.51. USDA estimated federally inspected cattle slaughter for Monday at 98,000 head. That is down 5,000 from the previous week and 16,452 head shy of the same Monday last year.
Apr 26 Live Cattle closed at $233.250, up $2.350,
Jun 26 Live Cattle closed at $231.875, up $2.925,
Aug 26 Live Cattle closed at $229.675, up $2.850,
Mar 26 Feeder Cattle closed at $355.450, up $5.975,
Apr 26 Feeder Cattle closed at $349.850, up $6.750,
May 26 Feeder Cattle closed at $345.550, up $6.375,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
